China and the US have reached an agreement in the trade dispute. The US has confirmed corresponding Chinese statements.
Both sides had agreed to reverse the tariff screw as part of a first phase of a trade agreement, a government official in Washington said. A spokesman for the Ministry of Commerce in Beijing said earlier that the US and China wanted to gradually withdraw tariffs. Details remained unclear.
The US and China have been covering each other for billions of dollars in special tariffs for more than a year. US President Donald Trump is disturbed, among other things, by his country's huge deficit in trade with China.
He accuses the People's Republic of unfair trade practices and restrictions on foreign companies and theft of intellectual property. Recently there were more and more signals of rapprochement. According to US officials, December saw a meeting between Trump and China's President Xi Jinping to sign a first trade deal.
